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The Improved Fair Value Gap (iFVG + Void) indicator for MetaTrader 4 is an updated and improved version of the Fair Value Gap indicator.

FVGs refer to rapid and irregular price movements. FVGs are considered regions that imbalance the relationship between supply and demand, and prices tend to revert.

The "iFVG + Void" indicator combines the fair value gap area and void area on the price chart for traders. This MT4 ICT indicator highlights bullish FVGs with a green box and bearish FVGs with a red box. Whenever FVG is partially consumed, it automatically changes to gray.

Indicator specification table

Indicators at a glance

The Fair Value Gap and Price Void (FVG+Void) indicator is an ideal tool for traders looking to identify Fair Value Gap (FVG) on price charts. With its unique feature, this indicator shows the area at which the consumed portion of the fair value gap area is filled.

This tool helps traders better understand price voids and fair value gap zones , allowing them to effectively implement them in their analysis .

iFVG + void in uptrend

Based on the price chart USD/JPY in the currency pair on the 1 hour time frame, this indicator first identifies areas of price imbalance and then plots a green fair value gap box on the chart.

Price encounters bullish FVG in the form of a pullback, providing the opportunity to enter long positions.

The FVG portion of the number shown in gray represents the amount of FVG that has been consumed.

iFVG + short in downtrend

According to the Solana cryptocurrency price chart, this indicator identifies areas of price imbalance on the 4-hour timeframe and then plots a red Implied Fair Value Gap box on the chart.

Price encounters bearish FVGs in the form of pullbacks, providing opportunities to enter short positions. Gray boxes represent consuming FVGs .

Indicator Settings

• Theme: The indicator theme is light color
• Candles checked at start time: Calculate FVG for number of candles equal to 1000
• FVG object prefix: FVG object prefix
• FVG types: FVG box type set to normal
• Show iFVG: Show all valid fair value gaps
• Show Invalid iFVG: Show consumed iFVG as active
• Show area usage percentage: Shows the active FVG usage percentage
• Zone colors used by iFVG: The color of the fair value gap consumed is gray
• Candle Close Invalid: FVG is invalid on full candle close
• Invalid for OB size: Invalid when FVG overlaps with order block
• Invalid OB size value: the exact size of the order block is set to 10
• Invalid for OB unions: multiple order block connections invalidate FVG

Conclusion

The Fair Value Gap (iFVG + Invalid) indicator for MetaTrader 4 helps traders identify key liquidity points and price gaps.

This MT4 Liquidity Indicator is particularly suitable for trading strategies like ICT and liquidity based strategies. Using this indicator, traders can identify high potential areas of entry , exit , and price reversal opportunities.